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by pltm
Road Town, Tortola — November 6, 2025 — The Government of the Virgin Islands has presented its largest national budget on record, totaling $550.6 million, for the 2026 financial year. The plan, themed “Pillars of Progress: Building a Sustainable Nation,” focuses on economic growth, infrastructure upgrades, and continued social investment.
(PLTM) - Premier and Minister of Finance Dr. Natalio D. Wheatley delivered the 2026 Budget Address to the House of Assembly, outlining a financial framework designed to support long-term national sustainability under the National Sustainable Development Plan (Vision 2036).
Key figures include: Total expenditure: $550,590,051; Projected revenue: $446,016,400; Recurrent expenditure: $442.26 million; Capital expenditure: $79.97 million; Debt servicing (principal repayments): $20.81 million. Additional funding will come from $54.9 million in loans and $49.7 million in fund balances.
The Government projects Real GDP growth of 1.0% in 2026, supported by new public and private sector investments. Inflation is expected to remain moderate, and employment levels are anticipated to rise gradually. The Territory’s main economic drivers—financial services and tourism—are expected to remain stable. Financial services revenues totaled $263.6 million in 2025, a 4% year-over-year increase, while visitor arrivals exceeded 1.1 million, the second-highest figure in Virgin Islands history. Funding for key ministries in 2026 includes: Communications and Works: $101.3 million; Health and Social Development: $87.6 million; Education, Youth Affairs, and Sports: $76.2 million; Governor’s Group: $60.7 million; Finance: $38 million; Premier’s Office: $21.9 million; Financial Services, Economic Development, and Digital Transformation: $23.2 million; Environment, Natural Resources, and Climate Change: $18.2 million. An additional $69.7 million is allocated for pensions, public debt, and fund contributions.
The 2026 plan continues major infrastructure projects launched in previous years. Priorities include completion of Phase 2 of the East End Sewer System, expansion of the STEP Renewable Energy Programme with new solar installations, modernization of the national water network, and airport expansion to a 7,000-foot runway enabling direct international flights.
The Government plans to introduce a revised Investment Act and a Good Standing Policy to strengthen business compliance and attract investors. The Financial Services Strategy Roadmap is scheduled for completion in 2026, and the Territory aims to expand partnerships in Latin America and Asia. Initiatives in digital assets, fintech, and trade development are also expected to support diversification and global competitiveness.
The Budget provides funding for construction of a $1.8 million Transitional Centre at East End/Long Look, pension increases for retirees, and salary increments for public officers. Upgrades to Peebles Hospital, the Nurse Iris O’Neal Clinic, and several community facilities are also included. The Office of Gender Affairs and Social Development Department will continue social protection initiatives focused on vulnerable populations.
Education initiatives will continue under the Full STEAM Ahead program, which promotes science, technology, engineering, arts, and mathematics learning. Plans for 2026 include establishment of a National Library, upgrades to classrooms, expanded teacher training, and increased support for early childhood and special education programs.
Environmental priorities include development of the Virgin Islands Agricultural Complex and a hydroponics pilot on Virgin Gorda, construction of a fishing complex at Baugher’s Bay to strengthen food security, and implementation of updated land, maritime, and climate policies to support sustainable resource management.
The Premier reaffirmed that governance reforms remain central to national development. Key objectives include strengthening transparency, digital service delivery, and constitutional progress following the revocation of the UK’s Order in Council earlier this year.
The 2026 Virgin Islands Budget emphasizes fiscal discipline, sustainability, and modernization. It aims to balance social investment with economic growth while maintaining low public debt and promoting stronger governance.
